|Bid||0.0000 x 1100|
|Ask||0.0000 x 2900|
|Day's Range||0.0211 - 0.0330|
|52 Week Range||0.0141 - 1.4300|
|Beta (3Y Monthly)||3.18|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 18, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.25|
Approach Resources Inc. (AREX) announced today that it, along with all of its subsidiaries, has commenced a voluntary Chapter 11 case in the United States Bankruptcy Court for the Southern District of Texas (Houston Division) to explore strategic alternatives, including, without limitation, the restructuring of its balance sheet or the sale of its business as a going concern, in a court-supervised process. The Company also announced that it has received a commitment from its pre-petition lenders for $16.5 million in new money “debtor-in-possession” (“DIP”) financing, subject to court approval and customary closing conditions. The Company expects to use its available cash along with proceeds of the DIP financing to pay the expenses of Chapter 11 and to provide additional liquidity.
Approach Resources (AREX) closed the most recent trading day at $0.13, moving -1.88% from the previous trading session.
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